Tag Archives: Deepwater Horizon

Federal Judge Finds “Reckless” and “Grossly Negligent” Conduct By BP Led to 2010 Oil Spill

The almost 4-year long court battle surrounding the BP Oil Spill seems to have taken a turn for the worst for BP. Last week, the U.S. District Court for the Eastern District of Louisiana determined the London-based company’s gross negligence and willful misconduct led to millions of gallons of oil being spilled into the Gulf … Continue Reading

Florida Businesses Denied By the Gulf Coast Claims Facility Have New Hope

When Kenneth Feinberg set up the protocol for distributing the funds to oil spill victims, he wrongly included geographic proximity as a consideration. This consideration directly conflicted with the Oil Protection Act, and many claims submitted by Florida businesses impacted by the oil spill were wrongfully denied. Thanks to Alex Sink, Charlie Crist, and Bill … Continue Reading

Are Lawyers Pandering for BP Oil Spill Clients Going to Get Sued for Malpractice in Follow-up Class Actions? A Guest Blog Regarding Business Claims By Bob Glasser Explains

There has been a disgraceful amount of pandering by potentially incompetent lawyers to sign up BP Spill Victims. Many of these lawyers are experienced only in personal injury cases, and many are not licensed in the affected states and are using the internet to lure clients. One attorney from California, who is not licensed in … Continue Reading

BP’s “Cascade of Failures” Began Before the Oil Spill

During the Congressional hearings, Senator Jeff Bingaman, Chairman of the Energy and Natural Resources Committee, said: If this is like other catastrophic failures of technological systems in modern history, whether it was the sinking of the Titanic, Three Mile Island, or the loss of the Challenger, we will likely discover that there was a cascade … Continue Reading

Oil Spill Insurance Claims Will Be Messy and is Oil a Pollutant?

This morning’s edition of Business Insurance has an article, Claims Could Get Messy After Huge, Costly Oil Spill, which explains that insurance claims are going to be complex and that the cost will certainly be in the billions. My reading of a FC&S discussion on the issue of "pollution" exclusions in homeowners policies indicates the same … Continue Reading

First Party Property Coverage for the Oil Spill to Shoreline Owners

First party property coverage may exist under some common form property insurance policies for losses caused by the oil spill. While I have been rather pessimistic regarding the possibility of first party insurance companies sending legions of claims adjusters to help oil catastrophe policyholders, there appears to be some coverage available, and possibly, a lot … Continue Reading

BP Promises To Pay “Legitimate Claims” But Leaves Room For Maneuvering

It appears that BP and others involved in the current oil spill may be taking their cues from insurance carriers. Insurers have always hedged their bets by saying that they would pay “legitimate claims” after disasters such as Hurricane Katrina and the Northridge Earthquake. This is a brilliant public relations strategy. It allows top executives … Continue Reading

Oilpocalypse Now!

The estimates of oil escaping were far too low. At first it was, "we dodged a bullet." Then, it was 1,000 barrels a day. Then, 5,000. And now, 25,000 barrels a day are flowing from the ocean floor. The Wall Street Journal has been excellent in its reporting:… Continue Reading

BP Oil Spill Could Be Worse Than Any Hurricane Damage and Much More Widespread–Even the East Coast of Florida Could Be Impacted

I hate to make doomsday predictions, but there is a possibility that the BP Oil Spill could be worse than any hurricane or catastrophe that I have been involved with. I spent yesterday speaking with others about the current situation. Indeed, my father teaches those in the oil industry how to recover and react to … Continue Reading
LexBlog